Deal Breakdown: Atlanta 3/2 Fix & Flip — $145k buy, $55k rehab, $245k exit

The 1,180 sq ft 1960s ranch in East Atlanta had been on market 45 days after a divorce. Price $159k, needed full cosmetic + some systems. We offered $145k all-cash, 10-day inspection, 21-day close. Before the offer we spent 90 minutes in the Fix & Flip Calculator.

Inputs: purchase $145k, estimated rehab $52k (we added 8% contingency in the tool), holding costs 5 months at $1,800/mo (hard money interest + taxes + insurance + utilities), selling costs 8% of ARV, target net profit $32k. The calculator instantly showed ARV needed to be $238k or higher for our minimum 22% margin. Recent closed comps in the neighborhood supported $245-255k after similar updates.

We also ran a sensitivity table in the same calculator: what if rehab runs to $62k and ARV only hits $232k? Still positive but below target. That single scenario run saved us from over-paying by $8k on the offer. We knew exactly our walk-away price.

The Rehab Estimator gave us the detailed $55,400 scope we actually used: new roof, HVAC, kitchen + baths, LVP, paint, landscaping, and $4,200 contingency line. We exported the budget PDF for the contractor bid comparison.

We layered two sources: a hard-money first lien at 65% of purchase ($94,250 @ 11% + 2.5 pts, 9-month term) and a private second from a retired friend for the rehab draw ($55k @ 10% interest-only, due at sale). Total cash out of pocket at close: only the points + closing + 1 month reserves (~$9,800).

Before signing the private money note we modeled the full waterfall in the Fix & Flip Calculator's financing section. It showed the exact interest accrual on both loans, the point at which we would break even on a 4-month vs 6-month hold, and the net profit after both lenders were paid off at closing.

The Cash-on-Cash Calculator was less relevant here (no long-term cash flow), but the BRRRR Calculator's flip-mode view (even though we weren't BRRRRing) helped sanity-check the all-in cost vs ARV spread. We kept total project cost under 82% of ARV — our hard rule for flips.

Rehab started the day after closing. We used the exact line items from the Rehab Estimator as the contract scope. The contractor was paid in 4 draws tied to milestones verified by photos and our weekly site visit.

Two change orders came up: the subfloor under the kitchen was worse than expected (+$2,800) and we upgraded to quartz instead of laminate to hit the higher ARV comps (+$1,400). Both were approved only after we re-ran the Fix & Flip Calculator with the new totals and confirmed we still cleared 19% margin.

The estimator's 'what-if' mode let us see the impact instantly: the extra $4,200 pushed our total rehab to $59.6k and dropped projected profit from $34k to $29.8k. Still acceptable, and the quartz actually helped the appraisal come in $3k higher.

Total rehab took 14 weeks (one week over because of permit delay on the HVAC). Holding costs were modeled at $1,950/mo in the calculator; actual was $2,110 because of the extra month. The sensitivity table we built on day one told us we could absorb it.

We listed at $259k on day 92 of the project. After 11 days on market and two price reductions to $249k we accepted $245k with a 17-day close. The buyer was a young family who loved the finishes.

At closing we paid off hard money ($94,250 + ~$7,800 interest + points already paid), paid back the private lender $55k + $3,850 interest, realtor 6% ($14,700), title/closing $2,100, and walked with $67,300. Total cash invested across the project (including the private money we had to front temporarily) was ~$52,400 on a time-weighted basis. Annualized return on that capital: 28%.

The Fix & Flip Calculator's final report matched the actuals within $1,100 — the difference was one extra utility bill and a small staging credit we gave at closing. We now save every completed flip as a scenario in the calculator for future comps and lender packages.

Exit math: selling was the right move because the neighborhood was softening and we had already hit our target profit. Had rates dropped 75 bps we might have considered a refi-to-rental, but the calculator's 'keep vs sell' toggle showed the flip still won on risk-adjusted return.